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Learning Center | How to Buy California Foreclosures

How to Buy California Foreclosures
Overview
Basic Steps to Purchasing Preforeclosures
Basic Steps to Purchasing Property at an Auction Sale

Answers
 

Overview

In California, the primary method ofdeed of trustforeclosure is non-judicial. However, if adeed of trust does not contain thepower of sale language or a standard mortgage is used, the lender may seekjudicial foreclosure.

There is a rather lengthy notice and cure period between the time a property owner receives anotice of default until the property is sold at apublic foreclosure auction sale - usually about four (4) months or more. Accordingly, don't wait until the property becomesReal Estate Owned (REO) after the auction because the property will cost more than it would inpreforeclosure.


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